Company president Scott Steffey said, “These European education operations have shown steady growth in enrollment over several years.

“[Paris-based INSEEC] is led by a strong management team with a bright future.

“This transaction allows Career Education to realize substantial value, while providing Apax Partners with significant education properties for their portfolio.

“It is a smart transaction for Apax Partners and for Career Education.

I’m also pleased that Career Education and Apax Partners have agreed to cooperate, mutually discuss and explore possible joint opportunities for international investments in the education sector in the future.”